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Congresswoman Ocasio-Cortez on Amazon's 3 Billion Dollar Tax Break

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posted on Feb, 15 2019 @ 02:04 PM
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originally posted by: CriticalStinker

originally posted by: Xcalibur254
a reply to: rickymouse


Vote for people like her Democrats, the businesses will set up their businesses in areas where people want jobs instead of tax money to fund the wasteful spending practices of the tax crazed Democrats.


People keep making this claim and yet California's GDP growth continues to outpace the rest of the country. If using tax dollars to fund social programs is supposed to chase away big money why do major corporations and the wealthy continue to flock to California?


There are examples like this on both sides of the spectrum, lower corporate tax rates drawing more to do business there, hence why Delaware has so many places incorporated there to dodge taxes.

To be fair though, California has the worst total debt figure, and the 14th worst per capita by states. So if their taxes are so high, why can the state not get in the black?


I'd venture almost all that GDP is from Silicon Valley. Many are starting to leave and set up shop elsewhere as the area is too expensive. The only thing that has really kept them is access to programming talent and funding (VC firms in silicon valley).

CA is really three states.... Silicon Valley.... Agriculture... Hollywood... All with different needs and politics. This is why so a lot of the tech folks have been pushing for CA to split into three states. The state is too big to govern imho.




posted on Feb, 15 2019 @ 02:04 PM
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originally posted by: Xcalibur254
a reply to: rickymouse


Vote for people like her Democrats, the businesses will set up their businesses in areas where people want jobs instead of tax money to fund the wasteful spending practices of the tax crazed Democrats.


People keep making this claim and yet California's GDP growth continues to outpace the rest of the country. If using tax dollars to fund social programs is supposed to chase away big money why do major corporations and the wealthy continue to flock to California?


California's GDP is less than what it spends.

So it doesn't matter what California makes... what matters is that it's unsustainable.

We should probably get our money back from their taxpayer-paid high speed rail failure too.

As far as people coming to California, I guess you missed the memo...

Economy News 5 Million People Left California Over the Past Decade.

Most are leaving to Texas, a state with a tax structure that is good for business and doesn't strangle it's workers and property owners.




posted on Feb, 15 2019 @ 02:06 PM
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a reply to: CriticalStinker

You are incorrect. The spectrum has a pretty clear statistically significant divide.

blogs.cfainstitute.org...

β€œRed and blue states are very different β€” economically speaking.
This is where a recent study by David C. Parsley and Helen Popper comes in. The duo investigated the differences between red and blue states much more thoroughly than my friend and I did over a couple of beers.

So what did they find?

Red and blue states vary so much in their economic trajectories that they may as well be two distinct countries within the United States.

First, blue states have enjoyed higher economic growth rates on average than red states since the Great Recession. Since the mid-2000s, the business cycle of blue states has increasingly diverged from that of their red counterparts.

The average disparity in GDP growth between red states and blue states has hovered around 3.5% since the recession ended. For comparison, a previous study of 20 developed nations found an average GDP convergence among them of only 1.75%.

Differences in GDP growth also lead to differences in household income and household consumption β€” i.e., in living standards. Luckily, there are several transfer mechanisms that mitigate these gaps in GDP growth so that consumption shortfalls in red states amount to only about one-fifth of the growth deficits.”



posted on Feb, 15 2019 @ 02:07 PM
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a reply to: Edumakated


CA is really three states.... Silicon Valley.... Agriculture... Hollywood... All with different needs and politics. This is why so a lot of the tech folks have been pushing for CA to split into three states. The state is too big to govern imho.


That is very interesting and though provoking.

I'll have to look into that.
edit on 15-2-2019 by CriticalStinker because: (no reason given)



posted on Feb, 15 2019 @ 02:11 PM
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originally posted by: queenofswords



She apparently does not understand that tax breaks given to companies are not income or payouts to begin with !!


And she majored in International Relations and Economics?!



and failed........

Spatial Awareness Test

boing ggggg 😎



posted on Feb, 15 2019 @ 02:20 PM
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originally posted by: pexx421
a reply to: CriticalStinker

You are incorrect. The spectrum has a pretty clear statistically significant divide.

blogs.cfainstitute.org...

β€œRed and blue states are very different β€” economically speaking.
This is where a recent study by David C. Parsley and Helen Popper comes in. The duo investigated the differences between red and blue states much more thoroughly than my friend and I did over a couple of beers.

So what did they find?

Red and blue states vary so much in their economic trajectories that they may as well be two distinct countries within the United States.

First, blue states have enjoyed higher economic growth rates on average than red states since the Great Recession. Since the mid-2000s, the business cycle of blue states has increasingly diverged from that of their red counterparts.

The average disparity in GDP growth between red states and blue states has hovered around 3.5% since the recession ended. For comparison, a previous study of 20 developed nations found an average GDP convergence among them of only 1.75%.

Differences in GDP growth also lead to differences in household income and household consumption β€” i.e., in living standards. Luckily, there are several transfer mechanisms that mitigate these gaps in GDP growth so that consumption shortfalls in red states amount to only about one-fifth of the growth deficits.”


CA has Silicon Valley. Oregon and WA are basically silicon valley outposts at this point. NYC is driven by Wall Street.

Again, many companies that are the economic engines in these "blue states" are getting the f*ck out because of the taxes. NY, CT, and NJ are losing top financiers to Florida at an alarming rate because of taxes. CT has a budget short fall because one or two billionaire hedge fund guys packed up and moved to Florida. They don't need to be on "Wall Street" anymore because they can do everything online.

The Bulge Bracket Wall Street Banks (Goldman, JPM) and the smaller boutiques like Blackstone, Lazard, and others that most of you have never heard of are entrenched in NYC. The entire economy of NYC is based around Wall Street. Fashion and entertainment is a contributor, but NYC lives and dies by Wall Street. However, even most of these banks have offices in other cities, but their infrastructure is in NYC so it is much harder for them to pack up and leave.

Companies in Silicon Valley stay there because it is hard to find top programming talent in the numbers they need. In addition, VC funds (Sand Hill Road) set up shop there so you have to be there if you are seeking early stage funding. Sure other cities have VC / PE funds but the biggest players are still in Silicon Valley.

Companies and people are leaving in droves out of these states to cheaper areas.



posted on Feb, 15 2019 @ 02:23 PM
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a reply to: xuenchen(replying to AOC)

Well that's not how taxes work.

Amazon wasn't getting paid anything. a tax break just means you won't be fleeced.

That said, screw amazon.
edit on 15 2 19 by projectvxn because: (no reason given)



posted on Feb, 15 2019 @ 02:23 PM
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originally posted by: CriticalStinker
a reply to: Edumakated


CA is really three states.... Silicon Valley.... Agriculture... Hollywood... All with different needs and politics. This is why so a lot of the tech folks have been pushing for CA to split into three states. The state is too big to govern imho.


That is very interesting and though provoking.

I'll have to look into that.



Radical Plan to Split California



posted on Feb, 15 2019 @ 02:43 PM
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a reply to: xuenchen

I believe she was suggesting that Amazon should apply the money that they aren't being taxed, to funding Teaching initiatives and public infrastructure, not the government.



posted on Feb, 15 2019 @ 02:45 PM
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a reply to: conspiracy nut

Oh well, now none of the people who might have had those jobs will have any job. I'm sure they feel better not getting paid for principle.



posted on Feb, 15 2019 @ 02:46 PM
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originally posted by: chr0naut
a reply to: xuenchen

I believe she was suggesting that Amazon should apply the money that they aren't being taxed, to funding Teaching initiatives and public infrastructure, not the government.


No, she's not.

She was clearly saying that the money not being spent on Amazon's breaks could now pay for those things. But since Amazon isn't part of the picture anymore since it's not going to be there, how is that money part of the picture in her district? Do you think she expects Amazon to send it to her district out of the goodness of their heart even though they aren't locating there now?



posted on Feb, 15 2019 @ 03:04 PM
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If she deosn't understand how a tax break for business works, why is she even in Congress.



posted on Feb, 15 2019 @ 03:06 PM
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a reply to: xuenchen

Cortez is partially right. More accurately, it's like money laundering at the state and City level.



posted on Feb, 15 2019 @ 03:06 PM
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originally posted by: Xcalibur254
a reply to: rickymouse


Vote for people like her Democrats, the businesses will set up their businesses in areas where people want jobs instead of tax money to fund the wasteful spending practices of the tax-crazed Democrats.


People keep making this claim and yet California's GDP growth continues to outpace the rest of the country. If using tax dollars to fund social programs is supposed to chase away big money why do major corporations and the wealthy continue to flock to California?


Cause its Cali and its beauty has loads of population and cheap labor nice weather etc., but you can't use that model for most of the states not to mention the gap between the rich and middle class is getting wider and wider had a friend she had a great job graphic arts stuff and what I thought was a great income of about 150 grand then she showed me pics of where she was living LOL my place in the southeast was 10 times nice and larger and safer LOL all on less than 40 grand.I've been fortunate over the years to have reps from all over stay in my home state for sales meetings and markets. When they see my house they can't believe the space, yard, and deck and monthly payment. LOL, I'm worried might have to relocate to Toronto checking out places I'm gonna need help. It's like all the extra salary is gonna be eaten by rent and COL.
edit on 15-2-2019 by putnam6 because: additions


but here's another point if we are going to compete in a global economy, companies are going to get breaks or eventually they will move elsewhere.
edit on 15-2-2019 by putnam6 because: additions



posted on Feb, 15 2019 @ 03:12 PM
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originally posted by: chr0naut
a reply to: xuenchen

I believe she was suggesting that Amazon should apply the money that they aren't being taxed, to funding Teaching initiatives and public infrastructure, not the government.


As She asks: "why would Amazon do that ?" 🀣



posted on Feb, 15 2019 @ 03:13 PM
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originally posted by: roadgravel
If she deosn't understand how a tax break for business works, why is she even in Congress.


She answers: "because taxpayers voted for me" 🀣



posted on Feb, 15 2019 @ 03:14 PM
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originally posted by: carewemust
a reply to: xuenchen

Cortez is partially right. More accurately, it's like money laundering at the state and City level.


@AOC responds: "See I'm learning fast !" 🀣



posted on Feb, 15 2019 @ 03:18 PM
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a reply to: neo96

Amazon's federal tax liability this year as well as last is $0.00



posted on Feb, 15 2019 @ 03:33 PM
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I'm against taxes in nearly every scenario.

But it really blows when small businesses get taxed to hell and back and can't afford to hire one or two extra employees and then scenarios like Amazon also happen.



posted on Feb, 15 2019 @ 03:36 PM
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originally posted by: CharlesT
a reply to: neo96

Amazon's federal tax liability this year as well as last is $0.00


Hmmm

Amazon Financial Statements show they paid plenty of taxes...


Amazon


Taxes Paid



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